SCAN Group Makes Strategic Investment in MedArrive
Date Posted: 08/24/2021
With second outside investment, healthcare non-profit signals ‘the future of healthcare lies in the home.’
LONG BEACH, Calif., Aug. 24, 2021—SCAN Group, whose holdings include SCAN Health Plan, one of the nation’s largest not-for-profit Medicare Advantage plans, has made a strategic investment in MedArrive. MedArrive is a healthcare logistics and services platform that enables payers and providers to leverage a network of EMTs, paramedics and other types of skilled healthcare workers to extend care services into the home, improving patient outcomes while empowering an underutilized segment of the healthcare workforce.
“With this partnership, SCAN is making an investment in both MedArrive and the health of America’s seniors,” said Dr. Sachin Jain, president and CEO of SCAN Group and SCAN Health Plan. “MedArrive’s technology allows healthcare providers to better meet the needs of older adults by providing them with care in the safest, most convenient location for them—their homes.”
“Enabling access to high-quality care for more people, particularly older adults and others not adequately served by today's medical system, is at the heart of our mission at MedArrive,” said Dan Trigub, CEO and co-founder of MedArrive. “This investment from SCAN Group, an organization that shares our values, is validation of our unique approach and belief that the future of healthcare lies in the home. We are excited to continue to build on our partnership with SCAN Group and leverage this funding to further build our team and scale our technology to improve people’s lives by bringing more humanity to healthcare.”
Earlier this year, SCAN selected MedArrive as a preferred provider for in-home services. Since then, the two companies have successfully collaborated on a first-of-its-kind program to provide COVID-19 vaccinations to SCAN Group’s homebound members; over the last three months, MedArrive has administered nearly 1,000 vaccinations for SCAN Health Plan and other partners, leading the charge to ensure equitable access and protect the most vulnerable populations. Now, SCAN and MedArrive are pursuing opportunities to incorporate MedArrive’s platform into other home-based care delivery programs for SCAN. (Watch the partnership in action here).
SCAN Group’s investment in MedArrive is the latest in a series that the organization is making as part of its larger diversification strategy, which is designed to foster the growth of companies that align with its mission to support healthier aging. Earlier this year, SCAN made a strategic investment in Monogram Health, a leading kidney care management company that provides in-home solutions for patients living with chronic kidney and end-stage renal disease.
“SCAN’s outside investment strategy is rooted in supporting organizations that share our commitment to innovating new ways to keep seniors healthy and independent,” said Dr. Linda Rosenstock, SCAN Group’s board chair and professor of Health Policy & Management, Environmental Health Sciences and Medicine at UCLA. “SCAN is eager to support MedArrive’s growth as a means to expand the options available to aging adults who require specialized, personal, high-quality care delivered where they’re most comfortable—in their homes.”
Momentum for MedArrive
SCAN’s investment comes on the heels of several months of significant momentum for MedArrive. In addition to signing and launching partnerships with numerous national health plans, ACOs, and government entities, MedArrive has also tripled the size of its team and significantly enhanced its underlying technology platform to support scaling out of its operations and integrating with partner systems (EHRs included).
To date, MedArrive has facilitated home care visits in several key states across the country including Florida, New Jersey and California, and unlocked new earnings opportunities for the hundreds of field providers, many of whom are EMS professionals, in its vast network.
As part of the investment agreement, Binoy Bhansali, SCAN’s head of Corporate Development, will join MedArrive’s board of directors–which includes members from investors Kleiner Perkins, Define Ventures and Redesign Health–as an observer.
“MedArrive is a natural fit for SCAN’s investment strategy,” said Bhansali. “The company's platform is bridging the virtual care gap by marrying hands-on care from professional EMTs with physician-led telemedicine, enabling healthcare providers and payers to extend services into the home, scale access to high-quality healthcare, and meaningfully reduce costs.”
About SCAN Group
SCAN Group is a mission-driven organization that is tackling some of the biggest issues in health care for older adults. The core of SCAN Group is SCAN Health Plan, one of the nation’s foremost not-for-profit Medicare Advantage plans, serving more than 220,000 members in California. Independence at Home, a SCAN community service, provides vitally needed services and support to seniors and their caregivers regardless of plan membership. SCAN Group also invests in new companies to support healthier aging, offers education programs, community funding, volunteer opportunities, and other community services in support of its mission—keeping seniors healthy and independent. To learn more, visit scanhealthplan.com or follow us on Twitter @scanhealthplan.
MedArrive enables healthcare payers and providers to seamlessly extend care services into the home, unlocking access to high-quality healthcare for more people at a fraction of the cost.
MedArrive’s healthcare logistics and services platform allows providers and payers to bridge the virtual care gap, integrating physician-led telemedicine with in-person care from EMS professionals, Nurses, Community Health Workers, Phlebotomists, and more. As a result, patients can access trusted medical expertise from their homes' comfort and safety without interruption to the continuity of care, ultimately resulting in better patient outcomes, a better-utilized healthcare workforce, and significant cost savings for patients and providers alike.
MedArrive has more than 50k highly-skilled "Field Providers'' including EMS professionals in its national network, and services span dozens of clinical use cases, including complex condition monitoring, transitional care and readmission prevention, vaccinations and immunizations, medication administration and much more. To learn more, visit medarrive.com or follow us on Twitter @medarrive or LinkedIn.